http://raghu1965.blogspot.in/2012/08/anatomy-of-trade.html
(iss anjuman me aapko aana hai baar-baar----- deewaaro-dar ko gaur se pehchaan leejiye)
2.30 Pm
Had written in the morning:
Q
Depending upon how the news/sentiment etc develop,this 5iv & 5v may not see light of the day at all--and we would see Nifty coming down to 5246(minimum) to announce end of 5th at 5376. Probability of 5iv ending at 5310-5315 and then 5v again going to 5380 is also alive.
UnQ
And based upon this,decided to close all my shorts once Nifty went below 5315.
Now the question is:
Was it 5iv and 5v would go up?
or was it a retracement of 5=5165-5376 and likely to go below 5246 .
I cannot say---and the way it kept hovering in the channel shown above, it also deliberately was hiding that answer. This channel's break would announce the next move---
And our trade initiation would not be this channel break--it would be the outer channel that would lead me into fresh trade:
.PNG)
Raghu
PS: For further details please log on to my new blog:
http://raghu1965.blogspot.in/2012/08/anatomy-of-trade.html
Raghu ji
ReplyDeleteFor learning purpose only..
If channel drawn parallel to 1-3 ie lower line v.2 already broken lower line.. if breaks upper line ie 1-3 means v extended.. but lower line broken means next wave right...
Not so simple--- it may be only A of a flat ABC.
DeleteBut channels do have one advantage.They signal end/beginning/continuation---almost everything. Please contact me on my mail id for further discussions---